Individuals and Families

Whether you are living in Australia or Asia or elsewhere we understand all the potential opportunities and issues and can help you with all your Australian tax requirements.  

If you need help with the current year's return or have a backlog of years worth of outstanding returns to sort out, we can help you get it done. 

The Australian tax system is very complicated, even for individuals, and especially so if you're living outside the country. 

We look after clients based both in and out of Australia. As registered tax agent we can help with whatever you need as well as with extensions to lodgement deadlines and liaising with the ATO on your behalf if necessary.

In these circumstances it is easy to lose focus on your assets, opportunities and obligations back in Australia but, they must still be addressed. There are both opportunities to be had, and pitfalls to be aware of, for the Australian non-resident.

There's also the myriad of complex CGT rules,  some of which are specifically targeted to make things far worse for non-residents. Presumably as we should pay more CGT than a resident for the privilege of  not actually being in Australia.... 

These include laws to reduce, or completely remove, your CGT discounts and even your principal residence exemption. A wrong or poorly timed move can be extremely costly...
 

Is your Accountant in Australia aware of your special status and helping you with strategies to utilise every opportunity available? Or just treating you like another client? 

We can provide all the services offered by any local accountant including Tax return, BAS and IAS preparation and lodgement as well as advice on strategies and structures to effectively  manage your tax obligations and investments as well as all tax matters including negative gearing. 

We can also help with your Business, Family or Investment Trust and Self-Managed Superannuation Fund matters (please see the Business and Structures page for more details). 

Here are some things to think about:

Property
Got property in Australia? Looking to buy some? 

Are you aware of the tax treatment of the rental income?

The opportunity to finance from outside Australia and the tax treatment of the interest? 

There's also the myriad of complex CGT rules,  some of which are specifically targeted to make things far worse for non-residents. Presumably as we should pay more CGT than a resident for the privilege of  not actually being in Australia.... 

These include laws to reduce, or completely remove, your CGT discounts and even your principal residence exemption. A wrong or poorly timed move can be extremely costly...   

Non-resident?
The last thing you want is for  he ATO to treat you as a resident and tax all your worldwide income.  If your affairs are not structured correctly this is a real danger, not only when you first leave, but also when, or if, you return and every intervening year.

It’s far more complicated than just living in Asia for 183 days. The ATO is constantly wining  cases against people who believed they were “non-residents” and taxing  them on their full international earnings. If you’re not 100% sure please seek some advice.

Shares and Dividends
Are you aware that some investments in shares may be CGT free and some dividends not taxable for non-residents?
 

Did you make an actual or deemed disposal of any shares when you left Australia, or, by default, opt for CGT rollover? Are you sure that was the best decision?

If you’re returning to Australia, have you thought about the best way to structure your  investments? Perhaps a trust or superannuation fund may provide significant tax benefits.
 

Superannuation
Never going back to Australia? Are you aware of the options to get access to your superannuation?
Have you got a self-managed superannuation fund? Are you aware that with you being a non-resident the fund may be non-complying? Do you know it may lose its beneficial tax status and expose you personally to potential penalties as the trustee? 

Interest
Does your Australian bank know you are a non-resident? Are you paying 10%, or 32.5%, or more on your interest income?